Is London’s tech hub capitalising on R&D tax relief?

Insight15th March 2019

Garry Keith, London Business Development Manager at R&D tax relief specialist Jumpstart says the capital’s young startups should make sure they don’t miss out on a valuable tax credit they are entitled to.

The UK’s technology sector is thriving, with London continuing to serve as the driving force in supporting existing businesses and attracting new start-ups.

According to our analysis of Companies House data, there were 4,678 new technology company incorporations in the capital in 2018, a significant jump from the 3,996 which set up a year earlier.

London is also ranked as the number one city in Europe for supporting start-ups and scale-ups in the latest European Digital City Index as it continues to build its reputation as a leader in the development of Artificial Intelligence (AI).

Technology businesses throughout the UK, including those in London, are being further supported through the continued investment in the R&D (research and development) tax relief scheme, which is designed to encourage and incentivise innovation.